We do not perform a credit check when you apply for a money loan. Your ability to repay your loan is determined using the information in your loan application form. It is therefore important that it is fully completed.
"Without a credit check" doesn't mean there is no check at all! We will verify that you have been working for at least 3 months by contacting your employer. Confidentiality requires, we will not give him the name of our company, simply telling him that you have made a request for funding.
We then use IBV, or Instant Bank Verification, which gives us a view of some of the elements of your bank statement from the 90 days prior to your request. Among the information are the amounts and frequencies of your payroll but also the amount of your living expenses. Our principle is not to exceed a certain debt ratio: Our money loans should help you and not complicate your life!
The IBV goes through a request to your bank and therefore remains completely confidential and secure.
At Prêt Xtra, we know that life is made up of projects and the unexpected! Whether it's a new electro, an unpaid or renovations not planned in your budget, bad credit often prevents you from going through the classic bank personal loan offers and that is why we do not go through the credit check to approve our loan!
Not only will you get your loan, but it will impact your credit score neither for good nor for bad. Xtra practical.
To make sure you can pay off your loan, we only look at the last 90 days of your banking transactions. Thus, in the event of loan refusal at Prêt Xtra, it is always possible to reapply once your expenses have stabilized.
100% without credit check
Increase your chances of getting the loan that the banks turn down.
Besides instant bank verification, there are some other criteria that must be met for your loan application to be reviewed and approved. Here they are :
o Be over 18 years old;
o Work and live in Quebec;
o Work for at least 3 months;
o Be paid by direct deposit;
o Not be self-employed;
o Not being a recipient of social assistance;
o Do not have too many loans with micro-loan agencies;
o Do not have too much NSF in the last 60 days before the request.
A personal loan can be a good alternative for you, but only if it's done responsibly. A personal loan incurs higher interest charges than a loan from a local financial institution. This kind of short-term funding should be used as little as possible.
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You can contact us, by email or phone, during weekdays.
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